Jake Gottlieb may be going through a lot with the closing of his former company Visium, but he and his business partners are looking forward to the future with Altium. Like Altium, Visium will also focus on the healthcare sector when it comes to investments. Jacob Gottlieb isn’t approaching this venture alone. He’s taking many industry experts with him including the co-founder of Merlin, Stuart Weisbrod. Weisbrod and Jake Gottlieb worked together at Merlin during the biotechnology revolution in 1999 and 2000.
Jake Gottlieb served as a portfolio manager for Merlin and provided the company and their investors with impressive returns. Despite having attracted many important clients and achieving a good level of success, the executives of the company decided to close it down in 2007 after returning assets to their clients. After leaving Merlin, Jacob Gottlieb and Stuart Weisbrod both went on the start their own investment firms.
Weisbrod co-founded the Iguana Healthcare Partners. The investment strategy of these companies was similar to Merlin’s as it invested in healthcare companies that had gone public. Some of the interests that Jake Gottlieb and Weisbrod’s companies both shared were biotechnology, pharmaceutical, diagnostic, medical devices, and healthcare informatics.
Jacob Gottlieb ended up growing Visium into a fund work $8 billion that employed around 2 people in the offices in London, New York, and San Francisco. Visium was started with only $300 million but managed to grow to around $2.5 billion in just a little over a year in 2008. While the financial crisis of that year took a financial toll on almost every company, Jake Gottlieb still managed to build its hedge fund.
When the Securities and Exchange Commission started their investigation into Visium, Jake Gottlieb knew that he would have to figure out his next career move. He may not have been part of the inside trading scandal that rocked the company, but he still agreed to pay millions in fines and other reimbursements so he can close down the company peacefully. So far, investors have taken a considerable amount of interest in Altium and with Some more good choices, that interest is only expected to grow.